TotalEnergies Leads Bidding for Galp's Oil Stake in Namibia - Bloomberg

Written by Emily J. Thompson, Senior Investment Analyst

Source: SeekingAlpha

Updated: Dec 02 2025

0mins

Source: SeekingAlpha

TotalEnergies as Leading Bidder: TotalEnergies has become the top bidder for a 40% stake in Galp Energia's Mopane oil discovery offshore Namibia, with expectations to finalize a partnership by year-end.
Galp's Stake Sale Details: Galp plans to sell half of its 80% holding in Mopane, anticipating a sale price of approximately €200 million in cash and an additional €3 billion in project costs to be covered by the buyer.
Significance of Mopane Discovery: The Mopane complex is estimated to contain up to 10 billion barrels of oil equivalent, making it one of the largest oil discoveries in the last decade.
TotalEnergies' Strategic Move: Acquiring the Mopane stake would enhance TotalEnergies' exploration efforts in Namibia, where it is also negotiating development terms for its nearby Venus discovery.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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